BOJ’s Kuroda: It is appropriate to continue with current policy framework

The Bank of Japan’s (BOJ) Haruhiko Kuroda said that the board members believe it is appropriate to continue with the current policy framework at its post-monetary policy meeting press conference scheduled on Friday.

Additional comments

New interest scheme to ease the impact of lowering rates further.

The rate levels on the scheme can be adjusted.

Priority is to keep the entire yield curve low amid the virus crisis.

ETF purchases are effective in times of severe instability.

BOJ simply clarified its view on the yield band.

Some yield fluctuations are positive for market function.

Does not intend to reduce ETF purchases or exit from stimulus policy.

ETF purchases are not undermining stock market function.

If we deepen negative rates, we will tweak interest based on the new scheme.